StockNews.com Downgrades James Hardie Industries (NYSE:JHX) to Hold

StockNews.com cut shares of James Hardie Industries (NYSE:JHX) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Separately, JPMorgan Chase & Co. raised shares of James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 6th.

James Hardie Industries Price Performance

James Hardie Industries stock opened at $35.17 on Tuesday. The firm has a market cap of $15.10 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 3.93 and a beta of 1.76. James Hardie Industries has a 52-week low of $29.88 and a 52-week high of $43.57. The company has a quick ratio of 1.44, a current ratio of 1.94 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $35.67 and its two-hundred day moving average is $34.41.

James Hardie Industries (NYSE:JHX) last released its earnings results on Tuesday, November 12th. The construction company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. James Hardie Industries had a net margin of 11.16% and a return on equity of 36.30%. The company had revenue of $960.80 million for the quarter, compared to analyst estimates of $973.49 million. During the same period in the prior year, the business earned $0.41 EPS. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. On average, research analysts expect that James Hardie Industries will post 1.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. grew its position in shares of James Hardie Industries by 55.7% in the 2nd quarter. Blue Trust Inc. now owns 1,045 shares of the construction company’s stock valued at $33,000 after buying an additional 374 shares during the last quarter. GAMMA Investing LLC grew its position in shares of James Hardie Industries by 46.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the construction company’s stock valued at $55,000 after buying an additional 432 shares during the last quarter. Huntington National Bank purchased a new position in shares of James Hardie Industries in the 3rd quarter valued at $55,000. Allspring Global Investments Holdings LLC purchased a new position in James Hardie Industries during the 1st quarter worth $71,000. Finally, Cubist Systematic Strategies LLC purchased a new position in James Hardie Industries during the 2nd quarter worth $66,000. 7.96% of the stock is owned by hedge funds and other institutional investors.

James Hardie Industries Company Profile

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.